Ferrari 250 GTO sells for £15.7 million at auction

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Nelson Ireson September 22nd, 2008

By Nelson Ireson Author September 22nd, 2008

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December 31st, 1969 A British man, wishing to remain anonymous, has purchased what is now the most expensive car in the world - one of the few Ferrari 250 GTOs built to secure homologation for the FIA's GT category. Only 39 of the cars were ever built, and their rarity and desirability has long been high - just not £15.7 million ($28.7 million) high. The example that garnered the record-setting bid is a 1963 example, from the middle of the car's 1962-1964 production run, reports The Sun. It had previously been valued at about £11 million - a significant sum, to be sure, but at least 30% short of the final price. Another Ferrari was the former record holder and now now-second-most-expensive car in the world. The 1961 Ferrari California Spyder claimed a bid of £5.4 million in May, just over one-third the cost of the 250 GTO. Ferrari released an all-new California last Friday, expanding its lineup to four cars and adding even more draw to its already world-famous brand.

Ferrari 250 GTO

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A British man, wishing to remain anonymous, has purchased what is now the most expensive car in the world - one of the few Ferrari 250 GTOs built to secure homologation for the FIA's GT category. Only 39 of the cars were ever built, and their rarity and desirability has long been high - just not £15.7 million ($28.7 million) high.

The example that garnered the record-setting bid is a 1963 example, from the middle of the car's 1962-1964 production run, reports The Sun. It had previously been valued at about £11 million - a significant sum, to be sure, but at least 30% short of the final price.

Another Ferrari was the former record holder and now now-second-most-expensive car in the world. The 1961 Ferrari California Spyder claimed a bid of £5.4 million in May, just over one-third the cost of the 250 GTO. Ferrari released an all-new California last Friday, expanding its lineup to four cars and adding even more draw to its already world-famous brand.

Tags: Auction

Posted in: Ferrari, News

by HECTOR #1, Posted: 9/22/2008

I love Ferraris but... $32M for a car is crazy. You cannot possibly be so irresponsible as to drive a $32M car even inside your own estate, much less at a track with other cars.

So I can only see logic in such a purchase as an investment. I understand it but there's a reaction in the car lover in me against such use of a classic car like this.

Maybe the guy can meet things half way and go drive his new car at that exclusive track in Monticello. I'd recomment a passenger with a shotgun in case one of those noveau riche guys with his pedestrian Ferrari FXX comes too close.
by www.mywheelsonwalls.com #2, Posted: 9/22/2008

Hector- I live a half hour drive from the Napa valley and every year approximately 14 of the 39 cars built get together for a few days to drive around wine country. (Drum roll, please!) They do this on open public roads, I love the rich that have brass you know whats and good insurance!!
by www.mywheelsonwalls.com #3, Posted: 9/22/2008

"www.mywheelsonwalls.com"

Hector- How is this for irresponsible?

http://www.youtube.com/watch?v=vmHPRkRxeow&feature=related

Unfortunately they cut short Nick Masons view on the car but at least it gives you an idea.
by HECTOR #4, Posted: 9/23/2008

Holy cow man! I don't know if I'd have the beans, if I had the money to buy such a car, to go out and race it. But I guess if your last name is Sachs, money is not one of your problems.